Deal or no deal ?

[Melanie Blazek]

This property in Sac has fire damage and needs updating 

asking price $240 k 

ARV $410k(comp sold 12/28/22 )

Fire Damage bid -$126k

I estimated remodeling to be $38k ( property is 1,537 sqft)

What would you need to be this for to make it a good deal ? 

Please answer as a Fix and Flipper, I am a new wholesaler 

[Chris Seveney]

@Melanie Onaghinor

How is your number under $40k and their number 3x that ?

Based on numbers I see, this is not a deal.

[Melanie Blazek]

The 38k remodel estimate I came to by multiplying 25 x 1537 sq ft 

Plus the estimated Fire Repair ..$126k

Makes a total of $164,425 is rehab 

I agree the asking price is too high, what price would make this a deal for you ?

[Steve K.]

I would take that $38k and double it. 

[Eliott Elias]

Terrible deal, you need this at 123k. 

[Melanie Blazek]

Thank you for your response, 

Yes I decided to pass, there wasn't any room to negotiate.